An alternative to the 1031 Exchange. Thoughts?

[Daniel A.]

I am in the process of selling an older, somewhat run down Victorian-style house. I, of course, want to make the most that I can off the sale and while I am eager to invest in more properties, the town in which I live has one legal professional who does 1031 exchanges. His fee, while less than the amount I would loose to capital gains, is enough to urge me consider other alternatives.

I spoke with a few people who have many more properties than I, and one thread that I've heard is having the buyer buy you another property, then transfer the deed over to you. Of course, assuming you happen across another property that is selling for more than your property is selling, you bring the remaining financing to the deal.

I bring this topic to the BiggerPockets forums to see what thoughts arise. For? Against? I'd love to hear thoughts, explanations, and stories.

Thank you,

Daniel